Best Buy

Retailers concerned over the pending border-adjusted tax have boosted their lobbying efforts in Washington.   Target Corp., Gap Inc., and Best Buy Co. Inc. spent nearly $3.2 million combined on lobbying during the quarter – as opposed to just $830,000 in the same period a year ago – according to federal lobbying disclosures filed Thursday, Bloomberg reported, while Wal-Mart spent almost $2.2 million in the first quarter, an increase of $140,000 over the same time last year.   

Best Buy Corp. came up short on top line growth in its fourth quarter amid problems with product availability. But its income topped expectations, helped by operational improvements and store closures.    The consumer electronics retailer on Wednesday issued a first-quarter forecast that missed Wall Street's expectations. It also detailed the next phase of its turnaround, which includes expanding its in-home advisory program, accelerating growth in Canada and Mexico, and more cost cutting.  

Facebook is scaling back its first big brick-and-mortar retail push.   The social media giant is closing approximately 200 of its 500 Oculus virtual reality (VR) pop-up stores operating in Best Buy locations across the United States, Business Insider said.    Facebook launched the program in 48 stores last May, and the technology — which was available for demonstrations and sales — was rolled out to 500 stores in August, Engadget said.  

Chain Store Age presents its third annual “Top 10 Women in Retail Technology ” report, which showcases the achievements of an influential group of technology executives. The professionals in the class of the 2017 — profiled below in no particular order — exemplify the innovation and leadership needed to suceed in today’s fast-changing retail environment. They share a record of success that is worthy of emulation by all their peers.

Best Buy pulled out its latest weapon in the battle to win last-minute holiday shoppers: free shipping.     For the third year in a row, Best Buy will offer free expedited shipping in the final stretch of the holiday season. Starting Thursday, Dec. 15 through 11:30 a.m. EST on Wednesday, Dec. 21, BestBuy’s online shoppers will automatically have their shipping upgraded to two-day shipping on almost everything.     

More of the nation’s underserved teens will have access to free technology tools and training thanks to Best Buy.   The chain plans to add nine new Best Buy Teen Tech Centers to its year-round support network in 2017. The announcement was made Tuesday, at the opening of Best Buy’s newest Teen Tech Center, in Denver, Colorado.  

Best Buy wants to help its customers stay connected — for a price.    The consumer electronics chain’s Geek Squad is taking on local Internet service providers by launching a new service, called Wi-Fi Setup & Support, that offers comprehensive, personalized home Wi-Fi setup either over the phone, Web or in the customer’s home.      

Best Buy Co. exceeded analysts’ expectations on several fronts in its second quarter.   Profit surged a better-than expected 21% in the quarter ended July 30, rising to $198 million from $164 million in the year-ago period.   Best Buy’s overall revenue totaled $8.5 billion, which was basically flat with last year, but also better than expectations.